SClayton2019 SClayton2019

15-05-2024
Business

Answered

Cullumber company had a january 1 inventory of 292000 when it adopted its dollar value LIFO. During the year purchases of 1750000 and sales of 3080000. December 31 inventory at year end prices was $439570, and the price index was 113.
What is the gross profit?

Answer :

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